Updated Tuesday, November 25, 2014 as of 3:49 PM ET

Are Alts Making the Grade?

The explosion of alternative-strategy mutual funds and exchange-traded funds has been a boon to advisors whose clients are still leery about stocks and increasingly disappointed by bonds. But, while assets are rising and new products continue to roll out, some holdout investors and advisors still ask, "What the heck are 'alternative funds' anyway?" and furthermore, "What will they do for me?"

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